{"id":15983,"date":"2024-08-09T17:32:03","date_gmt":"2024-08-09T14:32:03","guid":{"rendered":"https:\/\/forklog.com\/en\/analysts-predict-bitcoin-surge-as-inevitable\/"},"modified":"2024-08-09T17:32:03","modified_gmt":"2024-08-09T14:32:03","slug":"analysts-predict-bitcoin-surge-as-inevitable","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/analysts-predict-bitcoin-surge-as-inevitable\/","title":{"rendered":"Analysts Predict Bitcoin Surge as &#8216;Inevitable&#8217;"},"content":{"rendered":"<p>A rally in the leading cryptocurrency is deemed &#8216;inevitable&#8217; as Bitcoin awaits U.S. inflation data next week, according to analysts at Matrixport.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/MatrixportOnTarget?src=hash&#038;ref_src=twsrc%5Etfw\">#MatrixportOnTarget<\/a> Report?-Aug 9: <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> is Oversold \u2014 A Relief Rally May Be Imminent?<a href=\"https:\/\/twitter.com\/hashtag\/Matrixport?src=hash&#038;ref_src=twsrc%5Etfw\">#Matrixport<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/cryptocurrency?src=hash&#038;ref_src=twsrc%5Etfw\">#cryptocurrency<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\">#BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/RSI?src=hash&#038;ref_src=twsrc%5Etfw\">#RSI<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/MarketWatch?src=hash&#038;ref_src=twsrc%5Etfw\">#MarketWatch<\/a> <a href=\"https:\/\/t.co\/HPaNNp2CzG\">pic.twitter.com\/HPaNNp2CzG<\/a><\/p>\n<p>\u2014 Matrixport Official English (the only official X) (@Matrixport_EN) <a href=\"https:\/\/twitter.com\/Matrixport_EN\/status\/1821826250031174044?ref_src=twsrc%5Etfw\">August 9, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Bitcoin is currently oversold. Historically, the coin tends to recover under such conditions. Upcoming inflation data could spur the bulls,&#8221; the report states.<\/p>\n<\/blockquote>\n<p>While this macroeconomic factor remains crucial for risk assets, it has recently shifted &#8220;towards economic growth and labor market issues,&#8221; the company noted.<\/p>\n<p>Experts believe traders may still react positively to a drop in inflation, especially if it falls below 3%.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Protecting portfolios with inexpensive put options or using low-risk capital to buy call options has been an effective strategy for safeguarding Bitcoin in volatile times. As last year, 30-day volatility dropped to 20% before spiking,&#8221; Matrixport emphasized.<\/p>\n<\/blockquote>\n<p>Analysts added that they have repeatedly warned of potential declines in trading volumes and market liquidity.<\/p>\n<p>They advised monitoring whether traders are buying the dip. Despite a significant outflow from USDC last week, a larger inflow this week might indicate a re-entry by investors.<\/p>\n<p>With the relative strength index at 30%, a buying opportunity may arise, as it did in June 2024, researchers believe.<\/p>\n<h2 class=\"wp-block-heading\">Correction Outcomes<\/h2>\n<p>Glassnode reported that short-term holders of the leading cryptocurrency are experiencing the largest unrealized loss since the FTX collapse. This is attributed to Monday&#8217;s market downturn when Bitcoin fell to $49,000.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Short-Term Holders are currently holding the largest unrealized loss since the FTX implosion, which again highlights a point of serious investor stress imposed by current market conditions. <a href=\"https:\/\/t.co\/7hHbu2C7ZP\">pic.twitter.com\/7hHbu2C7ZP<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1821569784191791488?ref_src=twsrc%5Etfw\">August 8, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Experts say this underscores the &#8220;serious stress&#8221; investors face due to current market conditions.<\/p>\n<p>Later, Glassnode published data indicating that the sell-off triggered a wave of panic among traders, with market participants recording approximately $1.38 billion in realized losses.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The sell-off triggered a surge in panic by investors, with around $1.38B in realized losses locked in by market participants. In absolute terms, this is the 13th largest event in history on a USD denominated basis. <a href=\"https:\/\/t.co\/mPf09pG8Qk\">pic.twitter.com\/mPf09pG8Qk<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1821876175335018966?ref_src=twsrc%5Etfw\">August 9, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In dollar terms, this ranks as the 13th largest loss event in history, analysts added.<\/p>\n<p>The cryptocurrency fear and greed index shows significant volatility. On August 8, it stood at 20, rising to 48 the next day as Bitcoin recovered to $60,000.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXek0YaLgYC5FkKcg3-ul9VGRYZdV-zygeSX8kEVQw8eUhRB5m81kPAphYINwb966WE7Kh97FLSDKqE64adzL6ACo-2FfGN_D5y3BsgoExzH9vxqe5bKXaqvCeYhSKq14_TbJICfCAhQ8GP6aMd4Rp-3KLA?key=j_nbbaB49wQD2LV1bbCbxQ\" alt=\"Analysts Predict Bitcoin Surge as 'Inevitable'\"\/><figcaption class=\"wp-element-caption\">Fear and Greed Index. Data: <a href=\"http:\/\/alternative.me\">alternative.me<\/a>.<\/figcaption><\/figure>\n<p>Technical analyst Ali described the market panic as &#8220;unsurprising,&#8221; given the unpredictable movements of digital gold. However, he saw an opportunity to buy amid investor fear.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">No wonder why many are in extreme fear <a href=\"https:\/\/t.co\/kWRuajWaB7\">https:\/\/t.co\/kWRuajWaB7<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/1821570176644763973?ref_src=twsrc%5Etfw\">August 8, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Remember, be greedy while others are fearful,&#8221; he advised.<\/p>\n<\/blockquote>\n<p>MN Trading founder Micha\u00ebl van de Poppe highlighted Bitcoin&#8217;s V-shaped recovery.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> did provide a V-Shape recovery, through which this correction and crash due to Jump Trading selling crypto assets is comparable to COVID-19 \u2014> A Black Swan.<\/p>\n<p>As long as Bitcoin holds above $57,500, I think we&#8217;re in for a new ATH in September\/October. <a href=\"https:\/\/t.co\/9evOPEa3RB\">pic.twitter.com\/9evOPEa3RB<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1821856447887765564?ref_src=twsrc%5Etfw\">August 9, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As long as the leading cryptocurrency remains above $57,500, the expert anticipates a new all-time high in September or October.<\/p>\n<p>At the time of writing, Bitcoin is trading around $60,000, up 4.7% in 24 hours.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXcFYsen-0nloQBnXuvPScWJ6k13UyozgrhL65nC4_Jo6gNdFqh8Xp1jx21l_0pV6H4r2mKBrGTeDoi0GUvVBnPZB-ucMPJy4hSgrdfd6u33MztQuby_aOx0O6EE32BClUc3E4ueT3r8OA-2_vMbYd_9-0Ox?key=j_nbbaB49wQD2LV1bbCbxQ\" alt=\"Analysts Predict Bitcoin Surge as 'Inevitable'\"\/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Previously, QCP Capital recorded significant purchases of December call options.<\/p>\n<p>Earlier, analysts at Bitfinex described Bitcoin as a safe-haven asset amid recession risks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A rally in the leading cryptocurrency is deemed &#8216;inevitable&#8217; as Bitcoin awaits U.S. inflation data next week, according to analysts at Matrixport. #MatrixportOnTarget Report?-Aug 9: #Bitcoin is Oversold \u2014 A Relief Rally May Be Imminent?#Matrixport #cryptocurrency #Crypto #BTC #RSI #MarketWatch pic.twitter.com\/HPaNNp2CzG \u2014 Matrixport Official English (the only official X) (@Matrixport_EN) August 9, 2024 &#8220;Bitcoin is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15982,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1145,1150],"class_list":["post-15983","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-market-analysis","tag-news-plus"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=15983"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15983\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/15982"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=15983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=15983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=15983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}